Google’s finance head is on the way out.
Google Chief Financial Officer Patrick Pichette is planning to retire this year, according to an SEC filing released Tuesday. Pichette, who has served as the company’s CFO since 2008, will assist in the search for a new executive for the position. The transition is expected to be completed in the next six months.
Google missed stock analysts’ earnings estimates during all four quarters of 2014. The company continues to be heavily reliant on search advertising as its main revenue source despite developing business lines across a number of different sectors.
The 10 Most Ambitious Google Projects
Google Driverless Car
The Google Self-Driving Car has been in the works since 2005 after a team of engineers won a grant from the U.S. Department of Defense to design an autonomous car. The project, which aims to reduce traffic accidents, has made headway in recent years as states passed laws permitting self-driving cars. Google plans a commercial release between 2017 and 2020.
David Paul Morris—Bloomberg/Getty Images
Google has been testing balloons which sail into the stratosphere and beam Internet down to Earth.
Jon Shenk—AP
Google's smart contact lenses.
Google/AP
Google Lively
Google Lively was a web-based virtual community space where users could design avatars, chat with one another and personalize their online hangout space. The project was discontinued after a six-month stint in 2008 after limited success.
Google/AP
Google Earth
Google's virtual map of the Earth allows users to tour the earth with 3-D satellite images. The project, which dates back to 2004, has already found significant applications in disaster relief.
Google/AP
Project Ara
Google's build-your-own-smartphone project allows users to customize their handsets to their own preferences, with the possibility of eliminating electronic waste by encouraging users to add hardware updates on their own terms. The team is working towards a limited market pilot in 2015.
Bryan Bedder—Getty Images for Engadget Expand
Disease Detecting Pill
Google unveiled its plans to disease-detecting ingestible pill in October, a project that'll let patients access their real-time health data to encourage preventative care. The pill will contain nanoparticles that can bind to certain cells and chemicals, with the possibility of detecting diseases like cancer in early stages.
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Flying Wind Turbines
The flying windmill is the project of Makani Power, a wind turbine developer acquired by Google in 2013. The tethered airborne turbines will harness wind energy for the goal of producing low-cost, renewable energy
Andrea Dunlap—Makani Power/AP
Google+
Google's social networking platform launched in 2011, the most successful service after several flops at designing a Facebook competitor, like the now-retired Google Buzz. Today, Google+ boasts over half a billion monthly active users.
Stephen Lam—Reuters
Google Books
Google Books dates back to 2004, when Google partnered with libraries and universities to plan to digitize millions of volumes over the next several years. The project aims to make searching books as easy as searching the web.
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